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For the last section with the arrows, the options are Rent Expense,Salaries and wages expense, issued stock, dividends or service revenue. During 2017, its first
For the last section with the arrows, the options are Rent Expense,Salaries and wages expense, issued stock, dividends or service revenue.
During 2017, its first year of operations as a delivery service, Riverbed Corp entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $146,000 in cash. 2. Borrowed $45,000 by issuing bonds 3. Purchased delivery trucks for $ 63,000 cash. 4 Received $15,000 from customers for services performed 5. Purchased supplies for $ 5,000 on account. 6. Paid rent of $ 5,900. 7. Performed services on account for $10,700. 8. Paid salaries of $ 27,400. 9. Paid a dividend of $ 10,100 to shareholders. Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders' Equity in the far right column. (Ifa transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced, see Illustration 3-3 for example.)Step by Step Solution
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